presentation on fy18 financial report and audio webcast · 8/22/2018 · 1. taken from 2016...

ASX Release / 22 August 2018

Investor Relations Mr David Cotterell Manager Investor Relations +61 3 8660 1900 ASX: SBM Media Relations Mr Tim Duncan Hinton & Associates +61 3 9600 1979 ADR: STBMY St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 T +61 3 8660 1900 F +61 3 8660 1999 ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003 W www.stbarbara.com.au

Presentation on FY18 Financial Report and audio webcast

Bob Vassie, Managing Director & CEO, and Garth Campbell-Cowan, Chief Financial Officer, will brief analysts and institutional investors on the full year financial results at 11:00 am Australian Eastern Standard Time (UTC + 10 hours) on Wednesday 22 August 2018. A live audio webcast of the briefing will be available on St Barbara’s website at www.stbarbara.com.au/investors/webcast/ or by clicking here. The audio webcast is ‘listen only’ and does not enable questions. The audio webcast will subsequently be made available on the website.

https://stbarbara.com.au/investors/webcast/

https://edge.media-server.com/m6/p/8j8odcrc

FY18 Financial Results Presentation

BOB VASSIE, MANAGING DIRECTOR & CEOGARTH CAMPBELL-COWAN, CHIEF FINANCIAL OFFICER / 22 August 2018

2 /

Disclaimer

This presentation has been prepared by St Barbara Limited (“Company”). The material contained in this presentation is for informationpurposes only. This presentation is not an offer or invitation for subscription or purchase of, or a recommendation in relation to,securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment.

This presentation may contain forward-looking statements that are subject to risk factors associated with exploring for, developing,mining, processing and the sale of gold. Forward-looking statements include those containing such words as anticipate, estimates,forecasts, should, will, expects, plans or similar expressions. Such forward-looking statements are not guarantees of future performanceand involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control ofthe Company, and which could cause actual results or trends to differ materially from those expressed in this presentation. Actual resultsmay vary from the information in this presentation. The Company does not make, and this presentation should not be relied upon as, anyrepresentation or warranty as to the accuracy, or reasonableness, of such statements or assumptions. Investors are cautioned not toplace undue reliance on such statements.

This presentation has been prepared by the Company based on information available to it, including information from third parties, andhas not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy orcompleteness of the information or opinions contained in this presentation.

The Company estimates its reserves and resources in accordance with the Australasian Code for Reporting of Identified MineralResources and Ore Reserves 2012 Edition (“JORC Code”), which governs such disclosures by companies listed on the Australian SecuritiesExchange.

Financial figures are in Australian dollars unless otherwise noted.Financial year is 1 July to 30 June.

Australian Securities Exchange (ASX) Listing code “SBM”American Depositary Receipts (ADR OTC code “STBMY”) through BNY Mellon, www.adrbnymellon.com/dr_profile.jsp?cusip=852278100

Title slide picture: Gwalia operation at sunset, June 2018Published 22 August 2018


http://www.adrbnymellon.com/dr_profile.jsp?cusip=852278100

FY18 Financial Results Presentation3 /

Contents

• Overview• Safety• Profit & Cash• Growth

• Exploration• Strategy• Conclusion

Gwalia mine - June 2018

Paste aggregate fill (PAF) chamber at Gwalia - June 2018

4 /

FY18 Financial Results – Another record year

1. Non IFRS measure, refer corresponding slide in Appendix. 2. EBITDA margin is a non-IFRS measures, refer corresponding slide in Appendix. EBITDA Margin calculated from page 4 of the 2018 Directors’ and Financial Report. 3. Cash contribution is a non-IFRS measures, refer corresponding slide in Appendix. FY18 cash contribution ÷ FY18 ounces of gold sold reported page 4 of the 2018 Directors’ and Financial Report. 4. Balance comprises A$226.4 M cash, A$116.2 M term deposits (maturing between October 2018 and January 2019).

•Record annual production and record low AISC1

•Cornerstone Gwalia mine with Life of Mine Plan to FY31•Simberi mine life extension to FY21

Operational excellence

•4th consecutive record profit, NPAT of A$227 million•EBITDA margin of 51%2

•A$842/oz cash contribution3

Financial performance

•A$343 million cash at bank and term deposits4

•Debt free•8 cents final fully franked dividend (12 cents total for FY18)

Capital management

•Life of mine extension projects or studies at both mines•Broad range of exploration projects •A$21 M invested in four junior explorers

Growth


FY18 Financial Results – Another Record Year

FY18 Financial Results Presentation5 /1. Total Recordable Injury Frequency Rate (12 month avg).2. Industry Lost Time Injury Frequency Rate (LTIFR) data per Department of Mines, Industry Regulation and

Safety report titled ‘Safety Performance in the Western Australian Mineral Industry’ for 2016-2017.

6.0

4.1

5.0

2.1

1.2

2.1

FY 13 FY 14 FY15 FY16 FY17 FY18

Total Recordable Injury Frequency Rate1

• TRIFR corresponds to 9 low range injuries in last 12 mths

• Corresponding LTIFR (lost time/ ’serious’ injury frequency rate) of 0.5 to 30 June 2018 compares with gold mining industry average of 2.12

Elevated work platform at Gwalia - June 2018

St Barbara Safety Focus

6 /

Gwalia Production, Cost and Grade Profile1


Jumbo inserting ground support at Gwalia - June 2018

83

109131

185 183

214

248267 265 268

245

260

940841

783 785 802

950

FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19F

6.95.7 6.3

8.8 8.2 8.4 8.9 9.310.7

12.5

10.5

Mined Grade(g/t Au)

Reserve Grade7.8 g/t Au June 2017

Production(koz)

AISC(A$/oz)

1. FY19F AISC is midpoint of guidance, released 26 July 2018 in Q4 June 2018 Quarterly Report. AISC is a non IFRS measure, refer corresponding slide in Appendix. June 2017 Reserve grade 7.8 g/t Au, refer ASX announcement released 23 August 2017 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2017’.

44

80

110116

135

105

115

FY14 FY15 FY16 FY17 FY18 FY19F

Production(koz)

7 /

Simberi Production and Cost Profile

1. AISC is a non IFRS measure, refer corresponding slide in Appendix2. FY19F AISC is midpoint of guidance, released 26 July 2018 in Q4 June 2018 Quarterly Report.

AISC1

(A$/oz)

2,300

1,464 1,293 1,187 1,0681,325

2 Simberi processing plant, June 2018 – photo by Anna Mote


6

49

26

27

60

47

2.1

44

32

36

64

50

3.0

12

37

39

44

62

51

Dividend yield (%)

Dividend per share (cents)

Return on Equity (%)

EPS (basic, cents)

Simberi EBITDA margin %

Gwalia EBITDA margin %

EBITDA margin %

FY18

FY17

FY163

2

1,2

2

8 /

FY18 Key financial metrics

1. Underlying, see page 3 Financial Report2. Non-IFRS measure, refer corresponding slide in appendix3. Based on share price of A$3.99 on 21 August 2018 and A$2.91 on 22 August 2017

1,2

1,2


9 /

Profit Growth

EBITDA, Underlying EBITDA and Underlying NPAT are non IFRS measures, see corresponding slide in Appendix

184

284321 346

FY15 FY16 FY17 FY18

A$MUnderlying EBITDA

42

127160

202

FY15 FY16 FY17 FY18

A$MUnderlying NPAT

168

298 293346

FY15 FY16 FY17 FY18

A$MEBITDA

40

169 158

227

FY15 FY16 FY17 FY18

A$M

NPAT


10 /

Key Changes to Underlying Profit FY17 to FY181

1. Underlying profit from continuing operations, Non-IFRS measure, refer to corresponding slide in Appendix

202

-4 -2-4

4

25 1 16 6

160

FY17 Gross Profit -Leonora Ops

Gross Profit -Simberi Ops

Exploration Corporate &Royalties

D&A Finance + FX Income taxexpense

Other FY18

A$ M

illio

ns


11 /

Segment Profit and Cash Contribution From Operations

139

198220 219

-3

34 5178

FY15 FY16 FY17 FY18

A$M

Reportable segment profit / (loss) before tax1

Leonora Simberi

186

244 249 255

-33

3370

83

FY15 FY16 FY17 FY18

Cash contribution from operations1, 2, 3

Leonora Simberi

A$M

1. Results for Leonora include King of the Hills (which ceased production in the September 2015 quarter) operating results, but exclude significant items relating to the King of the Hills sale.

2. Non-IFRS measure, refer to corresponding slide in Appendix.3. Contribution is before Gwalia’s growth capex and deep drilling expenditure of $37 M (2017: $17 M) and

Simberi sulphide drilling of $0.3 M (2017: Nil)FY18 Financial Results Presentation

12 /

Balance Sheet

1. Amounts rounded to nearest $ million. Balance comprises A$226.4 M cash and A$116.2 M term deposits (maturing between October 2018 and January 2019).

-340 -347

-226

-1

79 77137 161

198215 261

226

116

-400

-300

-200

-100

0

100

200

300

400

FY14 FY15 FY16 FY17 Q1FY18

Q2FY18

Q3FY18

Q4FY18

A$M Cash, term deposits and debt

Term deposits

Cash

Debt

343

Cash and term deposits at FY18 of A$343M , no debt1


13 /

Paying Fully Franked Dividends

1. Non IFRS measure, refer corresponding slide in Appendix 2. Based on closing price of A$3.99 on 21 August 2018

FY17 final dividend

H1 FY18 Interim

FY18 final dividend

0.00

0.02

0.04

0.06

0.08

0.00

1.00

2.00

3.00

4.00

5.00

Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18

A$A$

Dividend Share price

• A$0.08 per share final dividend, fully franked

• Increase of 33% on final FY17 dividend

• Total dividends for year of 12 cents, up 100% from FY17

• Dividend yield of 3.0%1


14 /

Mine Life Extensions

2021

2020

2018

2031

2024

2024

2015 2020 2025 2030 2035

FY18

FY17

FY16

Simberi

FY18

FY17

FY16

Gwalia

Life of Mine Extensions

1. FY16 and FY17 mine life as published in relevant Annual Report, based on corresponding Ore Reserves and Mineral Resources Statements. FY18 mine life announced 21 February 2018 for Gwalia, 26 July 2018 for Simberi.FY18 Financial Results Presentation

• Mine lives have been extended in FY18 based on Ore Reserves and Mineral Resources as at 30 June 2017, and the mining and haulage methods proposed in the Gwalia Mass Extraction (GMX) PFS.1

• Ore Reserves and Mineral Resources have been depleted by production in FY18. • Ore Reserves and Mineral Resources Statements as at 30 June 2018 will be published next week.• Gwalia Resources and Reserves will be reviewed following completion of the GMX feasibility study.

15 /

Gwalia Extension Project update – on schedule

1. Details contained in ASX announcement 27 March 2017 ‘Gwalia Extension Project approved’. Project commenced Q3 Mar 2017. PAF involves mixing paste from surface with waste crushed underground to fill stope cavities.

• Gwalia Extension Project (GEP) consists of two main components, a ventilation upgrade and paste aggregate fill (PAF)1

• Budget of A$100 M with planned completion in Q2 December FY201

• On schedule and within budget, approximately 50% complete. A$40 M spent on project to date

• Raise bore activities progressing to schedule, first shaft hole complete and second surface shaft underway

• FY19F capex of A$55 to A$58 million• Paste aggregate fill (PAF) completion now

due Q2 December FY19

Above: Isometric view of proposed PAF crushing circuit, notionally at 1420 mbs.


16 /

Simberi Sulphide – potential long life mine extension

1. Taken from 2016 Simberi Sulphide PFS. PFS level of accuracy ±30%. For full explanation refer to Q3 March 2016 Quarterly Report released 19 April 2016.

2. Ore Reserves and Mineral Resources Statements 30 June 2017 released 23 August 2017 3. For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’


Samat, 134 koz

Botlu,111 koz

Pigibo, 57 koz

Pigiput, 1,003 koz

Sorowar, 78 koz

Modelled ultimate pit shells1 with associated sulphide reserves

• Focused exploration for sulphide ore underway to improve project economics

• Sorowar not drilled at depth previously

• Early Sorowar drill results indicate high grade sulphide gold present3

1.4 Moz Sulphide Reserve @ 3.5 g/t Au,

3.1 Moz Sulphide Resource @ 1.8 g/t Au 2

Distribution of 1.4 Moz Sulphide Reserve

17 /

Exploration | Sorowar Pit sulphide drilling

Best results include:

SORDGC001 – 28m @ 1.37g/t Au from 114m,

SORDGC002 – 19m @ 4.96g/t Au from 82m,

SORDGC007 – 20m @ 8.42g/t Au from 60m; and 15m @ 7.08 g/t Au from 89m

All intercepts downhole, for full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’FY18 Financial Results Presentation

18 /

Exploration | FY19 Guidance - A$21 to A$27 million

A$9 – A$12 million Leonora• Greater Gwalia Area • Gwalia Deep Drilling • Gwalia Seismic

A$4 – A$5 million Pinjin WA • Aircore drilling of identified

targets A$8 – A$10 million PNG• Simberi Oxides/Sulphides and

Porphyry• Tatau Sulphides

In addition to guidance, Newcrest Option and farm-in agreement, drilling copper-gold porphyry targets

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’FY18 Financial Results Presentation

19 /

Growth Pipeline

Feasibility Construction ProductionExploration

Aust

ralia

Ove

rsea

s

Greater Gwalia

Pinjin

Back Creek

16%

Catalyst Metals

16%.

Peel Mining

Au

Tabar Is Group

Cu-Au, OFA with NCM1

Tabar Is Group

Tower Hill

Simberi Sulphide

Inorganic growthEvaluating exploration, project, development and operating assets in a range of sizes in Australia and overseas

Gwalia Extension Gwalia

Mine

Simberi Mine

Gwalia GMX

10%

Prodigy Gold2

12%

Duketon Mining

Projects owned 100% St Barbara interest as noted New/updated

1. Option and Farm-in Agreement with Newcrest announced 14 November 20162. Formerly ABM Resources

..FY18 Financial Results Presentation

20 / FY18 Financial Results Presentation

Strategy for the next 5 years – “stronger for longer”

Diversify production base Seeking a portfolio of robust operations

Sustainable long life operations Aiming for above average mine life at bottom-third AISC

Quality growth pipelineActively add, manage and progress assets in all phases of the pipeline

Talented people who deliverSupport and work with our people to continue to achieve extraordinaryresults

Trusted to operateOur various stakeholders trust us everywhere we choose to operate

21 /

Gender Diversity

• WGEA Employer Of Choice For Gender Equality in 2014-15, 2015-16, 2016-17 and 2017-18 and the only mining company to be certified in 2017-18

• 2017 Winner Excellence in Company Diversity Programs and Performance, Women in Resources National Awards

• 2018 Winner of Australian Women in Resources Alliance Award, AMMA’s National Awards

• Bob Vassie, MD & CEO, appointed in 2014 as one of the first CEO Ambassadors of the Workplace Gender Equality Agency pay equity campaign

• Bob Vassie appointed in 2018 as a member of the AusIMM Council for Diversity and Inclusion

Council for Diversity and Inclusion


22 /

Conclusion

• Record year again – production, costs, profit and cash flow

• 8 cent per share fully franked final dividend,12 cent total dividends for year

• Strong balance sheet, no debt• Mine life extended at both operations• Fully funded near-term growth options at

current operations:

• Gwalia extension project & mass extraction

• Simberi sulphide exploration• Well positioned to grow inorganically

Gwalia deep drilling - June 2018


23 /

Appendices

Water sampling at Leonora - June 2018


24 /

Consolidated Production, Costs, Guidance Summary

1. Refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY182. Refer to Ore Reserve and Mineral Resources Statement (released 23 August 2017).3. Non-IFRS measure, refer Appendix.

Production SummaryConsolidated

YearFY17

Q1 SepFY18

Q2 DecFY18

Q3 MarFY18

Q4 MarFY18

YearFY18

Final GuidanceFY18

GuidanceFY191

St Barbara’s financialyear is 1 July to 30 June

Year to 30 June 2017

Qtr to 30 Sep 2017

Qtr to 31 Dec 2017

Qtr to 31 Mar 2018

Qtr to 30 Jun 2018




ProductionGwalia oz 265,057 64,283 62,835 56,773 84,537 268,429 250 to 260 koz 245 to 260 kozSimberi oz 116,044 33,976 36,674 29,112 34,899 134,661 125 to 132 koz 105 to 115 kozConsolidated oz 381,101 98,259 99,509 85,885 119,436 403,089 375 to 392 koz 350 to 375 koz

Mined Grade Reserve grade2

Gwalia g/t 10.7 10.7 11.2 15.0 13.4 12.5 7.8Simberi g/t 1.13 1.21 1.32 1.16 1.30 1.25 1.3

Total Cash Operating Costs3

Gwalia A$/oz 592 621 668 679 530 613 n/a n/a

Simberi A$/oz 1,092 964 908 1,036 983 969 n/a n/a

Consolidated A$/oz 689 740 757 800 662 732 n/a n/a

All-In Sustaining Cost3

Gwalia A$/oz 785 816 859 905 679 802 840 to 880 920 to 980

Simberi A$/oz 1,187 1,027 994 1,129 1,135 1,068 1,070 to 1,130 1,275 to 1,375

Consolidated A$/oz 907 889 910 982 812 891 920 to 970 1,030 to 1,100


Main current projects - timeline

Refer Q4 June FY18 Quarterly Report for detailsFY18 Financial Results Presentation25 /

construction (completion due Q2 Dec FY20)Gwalia Extension Project

feasibility studyGwalia Mass Extraction

drilling2600 mbs hole

interpretation3D Targets

FY18 FY19 FY19Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 & beyond

Investment decision Dec 2018

drilling

analysis & further drilling

drillingSimberi sulphide PFS

ongoing drilling and interpretation program (Nov 2016 to 2024)Simberi JV

Initial 2 year option period to Nov 2018

analysis and further seismic drilling

26 /

FY18 Financial Summary

FY18 FY17 Change

EBITDA 1, 2 A$M 346 321 8%

Underlying NPAT 1 A$M 202 160 26%

Reported NPAT A$M 227 158 44%

Cashflow from operations 3 A$M 316 303 4%

Cash and cash deposits A$M 343 161 113%

Earnings per share (basic) 1 cents 39.4 32.3 22%

Dividend per share cents 12.0 6.0 100%

ROE 1 % 37% 44% 7 points

• Record underlying NPAT, EBITDA and cash flow from operations

• Debt free

• A$343 million cash at bank and term deposits

• Final fully franked dividend of 8c per share (12 cents total for FY18)

1. Underlying, see page 3 2018 Directors’ and Financial Report2. Non-IFRS measure, refer to corresponding slide in Appendix.3. Net cash inflow from operating activities


Increasing Cash Balance

For details refer to cash movements table in ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’FY18 Financial Results Presentation27 /

161

198215

261

343

3717

46

82

FY17Q4 Jun

FY18Q1 Sep

FY18Q2 Dec

FY18Q3 Mar

FY18Q4 Jun

Cash balance Column1 Net cash movement

Q1 movement net of:

$25 M dividends

Q2 movement net of:

$31 M tax

$12 M investments

A$M

Q4 movement net of:

$7 M tax

$4 M investmentsQ3 movement net of:

$16 M dividends

$4 M investments

28 /

FY18 Cash Movement

343

-32

-9 -14

-39 -21

-41

255

83

161

Cash Jun 2017 Leonora Ops GEP Capex Simberi ops Corporate &Other (inc.

capex)

Exploration Income tax Investments Dividends Cash Jun 2018

A$M

Reconciliation of cash movement


29 /

FY18 Application of Cash

Note: Cash surplus = cash flow from operating less investing activities

218 182

-318-14

-71-21

-39-41

5

681

Receipts Op costs &Finance

costs

Exploration Capex Investments Income tax Cash surplus Other Dividends Change incash balance

A$M


30 /

Gwalia Mass Extraction – PFS (Original)

For details refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

• Pre-feasibility Study announced February 2018• Comprises selective “island pillar” mining and hydraulic hoisting• Supports mine life to FY31


31 /

Gwalia Mass Extraction – PFS (Alternative)

For details refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

• Feasibility Study considering alternative 3-stage crushing underground


32 /

Exploration | Gwalia Deeps, Seismic and 2600 mbs targets

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June 2018’

Gwalia deep drilling objectives• Further drilling 2,000 to 2,200 mbs seeking to extend Indicated Resource• Additional targets identified from 3D seismic model


Exploration | Gwalia Deeps, Seismic and 2600 mbs targets

33 /

Gwalia Deeps 1540 – 1580 lode schematic

Reproduced from ASX release 25 September 2017 ‘Denver Gold Forum 2017’FY18 Financial Results Presentation

Gwalia Deeps 1540 – 1580 schematic

34 /

Gwalia – lowest expected mined depth

For full details refer to ASX Announcement “Gwalia mine medium and long-term outlook” released on 21 February 2018.Deepest mineralised intersection in Q4 June 2018 Quarterly Report released 26 July 2018.

Ore

Res

erve

s

Min

eral

Res

ourc

es

deep

est m

iner

alis

ed in

ters

ectio

n

1100

12201300

13801420

1500 15001540

15801620

17001740

17801820

21402200

2690

1000

1200

1400

1600

1800

2000

2200

2400

2600

FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19F FY20F FY21F FY22Fmbs

Lowest Expected Mined Depth in Year

Ore Reserves and Mineral Resources Statements as at 30 June 2017 (released 23 August 2017), Ore Reserves extend down to 2140 mbs, Mineral Resources extend down to 2200 mbs, work continues to seek further extensions.


35 /

Gwalia – depth of Ore Reserves

Ore ReservesAt end of year

(+ production during year)(Moz)

Maximum Depthof Ore Reserves

(mbs)


Ore Reserves and Mineral Resources Statements as at 30 June 2017 (released 23 August 2017), Ore Reserves extend down to 2140 mbs, Mineral Resources extend down to 2200 mbs, work continues to seek further extensions

1540 mbs1740 mbs

1940 mbs2140 mbs

0

500

1000

1500

2000

30 Jun 2014 30 Jun 2015 30 Jun 2016 30 Jun 2017

1.9 Moz1.6 Moz 1.8 Moz

2.1 Moz

0.21 Moz0.25 Moz

0.27 Moz0.27 Moz

0.0

0.5

1.0

1.5

2.0

2.5

Production

Reserves

MaximumDepth

Simberi Island Group (PNG)Pinjin, Western Australia

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

Leonora, Western Australia

Exploration activities

36 / FY18 Financial Results Presentation

Exploration activities


Competent Persons Statement

Exploration ResultsThe information in this presentation that relates to Exploration Results for Simberi and Pinjin is based on information compiled by Dr Roger Mustard,who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Mustard is a full-time employee of St Barbara and has sufficientexperience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as aCompetent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.Dr Mustard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this presentation that relates to Exploration Results for Gwalia and the Leonora region is based on information compiled by MrRobert Love, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Love is a full-time employee of St Barbara and has sufficientexperience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as aCompetent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and OreReserves’. Mr Love consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Mineral Resource and Ore Reserve EstimatesThe information in this presentation that relates to Mineral Resources or Ore Reserves is extracted from the report titled ‘Ore Reserves and MineralResources Statements 30 June 2017’ released to the Australian Securities Exchange (ASX) on 23 August 2017 and available to view atwww.stbarbara.com.au and for which Competent Persons’ consents were obtained. Each Competent Person’s consent remain in place for subsequentreleases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent reportand accompanying consent.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASXannouncement released on 23 August 2017 and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions andtechnical parameters underpinning the estimates in the original ASX announcement continue to apply and have not materially changed. TheCompany confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from theoriginal ASX announcement.

Competent Person Tim Richards is entitled to participate in St Barbara’s long term incentive plan, details of which are included in the 2018 Directors’and Financial Report released to the ASX on 22 August 2018

Full details are contained in the ASX release dated 23 August 2017 ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ available atwww.stbarbara.com.au.

https://stbarbara.com.au/



Non-IFRS Measures

We supplement our financial information reporting determined under International Financial Reporting Standards (IFRS) with certain non-IFRS financial measures, including cash operating costs. We believe that these measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance.

All-In Sustaining Cost All-In Sustaining Cost is based on Cash Operating Costs, and adds items relevant to sustaining production. It includes some, butnot all, of the components identified in World Gold Council’s Guidance Note on Non-GAAP Metrics - All-In Sustaining Costs andAll-In Costs (June 2013). Refer most recent quarterly report available at www.stbarbara.com.au for example

Cash contribution Cash flow from operations before finance costs, refer reconciliation of cash movement in the most recent quarterly reportavailable at www.stbarbara.com.au

Cash operating costs Calculated according to common mining industry practice using The Gold Institute (USA) Production Cost Standard (1999revision). Refer most recent quarterly report available at www.stbarbara.com.au for example

Dividend yield Dividend ÷ share price

EBIT Earnings before interest revenue, finance costs and income tax expense.

EBITDA EBIT before depreciation and amortisation.

EBITDA margin EBITDA ÷ Revenue

Net-cash Net-cash equivalent to cash and cash equivalents less current and non-current interest bearing borrowings

Net-debt Net-debt equivalent to current and non-current interest bearing borrowings less cash and cash equivalents

ROE ‘Return on equity’ is calculated as underlying NPAT expressed as a percentage of average total equity. Refer 2018 Directors’ and Financial Report (p3) for details

Significant Items Items whose nature or amount is considered material to the financial report. Refer Note 3 of 2018 Financial Report (p48) for details

Underlying EBITDA / NPAT

EBITDA or NPAT after excluding identified significant items. Refer 2018 Financial Report (p3) for details.

2018 Financial Report Refer 2018 Directors’ and Financial Report available at www.stbarbara.com.au






Investor Relations Enquiries

Rowan ColeCompany Secretary

T: +61 3 8660 1900E: [email protected]

David CotterellManager Investor Relations

Gwalia Board visit November 2017, Underground, L to R: Ashleigh Smyth - Graduate Geologist, Kerry Gleeson – Director, Tim Netscher – Chairman, David Moroney – Director, Bob Vassie - MD&CEO, Andrew Walker - Underground Manager

presentation on fy18 financial report and audio webcast · 8/22/2018 · 1. taken from 2016...

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